Company Act 2008 -key points

Companies Act 2008 - Key Points Here are the Key Points of Companies Act 2008 - One-person company allowed, more stringent regime for not-for-profit firms - Restrictions on number of partners in partnership firms, banking firms relaxed - Companies will not be able to raise deposits from public, except through Special Acts - Consolidation of financial statements of subsidiaries with holding companies mandatory - Class action suits by shareholder associations, groups against companies allowed - Revised framework for regulation of insolvency, new Insolvency Fund Source : Business Standard

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